UPDATE: JMP Securities Starts MacroGenics (MGNX) at Market Outperform

JMP Securities analyst Silvan Tuerkcan initiates coverage on MacroGenics (NASDAQ: MGNX) with a Market Outperform rating and a price target of $39.00.

The analyst comments "MGNX is a $1.2B MC commercial-stage biotechnology company developing antibody-based therapeutics focused on oncology. Leveraging its antibody expertise, MacroGenics is actively developing next-generation technologies, including antibody-drug conjugates (ADC) and bispecific antibodies, that are quickly becoming key pillars in immuno-oncology. We believe progress with key assets flotetuzumab and MGC018 in the company's pipeline will unlock value in the near-term."

For an analyst ratings summary and ratings history on MacroGenics click here. For more ratings news on MacroGenics click here.

Shares of MacroGenics closed at $19.74 yesterday.

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